Skip to main content

Bitcoin Mining Stocks Rise Despite Banking Crisis

By

 Bitcoin Mining Stocks Rise Despite Banking Crisis


When the U.S. government intervened late Sunday to protect all depositors at collapsed institutions Silicon Valley Bank (SVB) and Signature Bank, Cipher Mining (CIFR), Hut 8 (HUT), and Stronghold Digital (SDIG) are among the cryptocurrency miners experiencing the highest gains in Monday trading. 

The miners are following bitcoin (BTC), which has increased by 17% to $24,100 during the last day.

Uncertainty surrounds the scope of the mining industry's exposure to the crypto-friendly Signature Bank. The now-closed lender's $142 million in deposits were still available, according to Marathon Digital Holdings (MARA), which announced this on Monday. On Monday, CleanSpark (CLSK), Bitfarms (BITF), and Argo Blockchain (ARBK) declared that they have no exposure to either Silvergate or SVB or Signature, the other two bank failures. 

Yet, according to the company, an Argo subsidiary does have operating cash in Signature deposits.

Article Credit: Coindesk

Join thousands of investors, Bitcoin B2B and Institutional at the World's Largest Bitcoin Mining Conference & Expo- Mining Disrupt July 25-27, 2023 in Miami. Get your Tickets now at https://miningdisrupt.com

Chat, Network and Connect with many thousands of Miners and Professionals on the official Mining Disrupt Telegram Group: https://t.me/MiningDisruptOfficial

Mining Disrupt email: conference@miningdisrupt.com






Comments

Post a Comment

Popular posts from this blog

A Joint Venture Between Atlas Power and Giga Energy Will Use Stranded and Flare Gas for Bitcoin Mining

By
A Joint Venture Between Atlas Power and Giga Energy Will Use Stranded and Flare Gas for Bitcoin Mining A ground-breaking joint venture to use stranded and flared gas for Bitcoin mining operations has been announced by Atlas Power, a leading provider of Bitcoin mining infrastructure led by CEO Kevin Washington and COO Jeff Young, and Giga Energy, a pioneer in cutting-edge gas-to-energy solutions founded by Brent Whitehead and Matt Lohstroh. This alliance hopes to capitalize on the rising demand for eco-friendly and effective Bitcoin mining solutions while addressing environmental issues related to gas flaring. In the joint venture, Atlas Power will supply cutting-edge Bitcoin mining equipment, and Giga Energy will offer its knowledge in capturing and converting flare gas into power. Through their cooperation, the businesses are able to conserve a resource that would otherwise be wasted, lower their greenhouse gas emissions, and profit from the energy-intensive Bitcoin mining process. Th...
Post a Comment
Read more

Eureka Digital Mining Signs Distribution Agreement with Green Hash Co.

By
Eureka Digital Mining Signs Distribution Agreement with Green Hash Co. October 25, 2023, at the Blockchain Life 2023 exhibition in Dubai UAE- Shenzen Green Hash Co Ltd. and Eureka Digital Mining Inc. officially signed a strategic cooperation agreement for the distribution of their industry leading direct chip cooler hydro mining infrastructure to the North American mining market and select global projects / clientele. "We are very excited for his amazing partnership, expanding upon our commitment to the bitcoin mining community to deliver the most efficient and innovative solutions in the immersion and now direct chip cooling space. Green Hash's premier line of hydro products will allow us to continue to deliver smart and highly efficient mining systems to our client base as they prepare for the halving" says Bryan Davies, President of Eureka Digital Mining.  George Duran, President of Green Hash states "Green Hash's strengths are in: research and design, enginee...
Post a Comment
Read more

Another World First from Alpha Miner

By
Another World First from Alpha Miner Oops, they did it again. Now officially, another World First from Alpha Miner team. Successful testing is finished, and orders are now taken. A universal power supply, replacing every version of APW121215 with a single SKU - A, B, C, D, E, F, G, we cover them all! Comes in 4200W orignal PSU replacement, 5600W air overclock, and special designed 5600W, 7200W, 9500W immersion models.  • cTUVus (UL), FCC, CE certified.  • Customized to your particular requirements • Real warranty, provided by one of the best in business HM Tech • Real support, including online • 180-300V input • Every possible protection for the PSU and miner • Improved harmonics Want to see it first hand and learn more? Join us  at the World's Largest Bitcoin Mining Conference & Expo- Mining Disrupt July 25-27, 2023 in Miami. Get your Tickets now at  https://miningdisrupt.com Chat, Network and Connect with many thousands of Miners and Professionals ...
Post a Comment
Read more